Computation of exempt income of specified fund, attributable to investment division of an offshore banking unit under Schedule VI [Table: Sl. Nos. 1 to 4] to Act

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Act.- (1) For the purposes of Schedule VI [Table: Sl. Nos. 1 to 4] to the Act, exempt income of specified fund attributable to the investment division of an offshore banking unit shall be computed in accordance with the following formula:- A + B + C + D Where, - A = any income accrued or arisen to, or received by the eligible investment division as a result of transfer ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ible investment division from a securitisation trust, which is chargeable under the head "Profits and gains of business or profession". (2) Any expenditure incurred in relation to income referred to in A or B or C or D referred to in sub -rule (1) shall not be allowed as deduction from any other income under any provision of the Act, irrespective of the fact that such expenditure has not been a....